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Asset Finance Process & Criteria

Learn more about the asset finance application process and the criteria you must meet to qualify

Read on below or talk to an expert

The asset finance process

1Get in touch with us by enquiring online or calling us on 01922 620008. One of our asset finance experts will then talk through your requirements to help them to understand exactly what your perfect product looks like.
2We work with our lenders to produce the best possible terms for your business.
3We will then issue the terms directly to you by email and will follow up to discuss them over the phone.
4Once you’re happy with the product offered, we will move forward to submission of the application.
5The lender will then formally assess the application and will look to agree the application through their credit committee.
6The agreement can then be finalised, the asset purchased and you can enjoy use of the equipment, without a large lump sum outlay.

What information should I have ready before I enquire?

We’re happy to discuss your needs on a fairly informal basis initially. That said, it can help us to give you a more detailed response if you provide us with details of your company (including turnover and net profit, your company name and number and details of exactly what asset you’re looking to acquire.

If you know the exact asset, name, serial number and any mileage or hours readings are also extremely helpful.

Criteria

The full criteria for funding asset finance applications can vary between lenders. Although each lender will have their own individual preferences, this is designed to give you an overview of the applications we are able to fund.

If your application does not fit the criteria laid out here, just let one of our advisors know, and they will be able to look for a bespoke funding package for you.

Loan sizes

Facilities available from £10,000 – with no maximum.

Term

Facilities available for of up to 10 years.

Acceptable security

Asset refinance can be used to release capital from almost any pieces of business equipment, as long as they are easily identifiable and have a long, expected lifespan. We will consider any security, including:

  • Agricultural equipment
  • Engineering equipment
  • Haulage vehicles
  • Cars, vans and commercial vehicles
  • Boats
  • Aircraft
  • Manufacturing equipment
  • Catering equipment
  • Printing presses, guillotines and finishing equipment
  • Office equipment
  • IT and electronics

Acceptable borrowers

We are happy to fund the following:

  • Sole traders
  • Limited companies
  • Partnerships
  • LLPs

Industries funded

We will consider applications from any industry, including:

  • Agriculture
  • Transport and logistics
  • Aviation
  • Construction
  • Engineering
  • Manufacturing
  • Marine
  • Packaging
  • Plastics
  • Print
  • Recycling and waste management
  • Renewable energy

Locations

We fund businesses all over the UK, with no geographical bias.

Credit history

We can fund applicants with any credit history status. Applications with adverse credit are considered on a case by case basis.

Loan purpose

Any acquisition or refinance of business assets considered.